True Diamond, a jewelry brand specializing in lab-grown diamonds, raised Rs. 26 crore ($3 million) in a pre-Series A funding round led by India Quotient, with participation from existing investors Titan Capital Winning Fund and Huddle Ventures.
- True Diamond raises Rs. 26 crore funding led by India Quotient to boost omnichannel expansion across India.
- The lab-created diamond jewellery brand expands retail presence in Mumbai, Hyderabad, and Noida.
- True Diamond builds a catalogue of 5,000+ designs with unique offerings like Portuguese diamonds and custom jewellery.
It previously raised $1 million in a seed round led by Titan Capital, which included participation from Huddle Ventures, Zeropearl Ventures, Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Mamaearth founder Ghazal Alagh, Abhishek Goyal, and Anmol Jain.
The company plans to use the funds to accelerate its omnichannel retail strategy, with a focus on offline expansion, True Diamond said in a press release.
Founded in 2024 by Darayus Mehta and Parin Shah, True Diamond seeks to modernize the jewelry experience for today's Indian consumers. Its focus on design and material innovation, bold content and accessible luxury has led True Diamond to already open retail outlets in Mumbai, Hyderabad, and Noida and to have more locations planned in metro cities.
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The company based in Mumbai has products that include a plethora of options including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, and the list goes on. The startup is also exploring customized jewellery and men’s collections.
True Diamond says they have built a catalogue with over 5,000 designs and a 1.7x customer repeat rate. The brand uses innovative products and has product launches that are unique like over the 160 facet Portuguese diamonds, black diamonds, and more.
